fbpx
Ethiopia: Loan from United Nations Fund Allows Food and Agriculture Organization (FAO) to Scale Up Fertilizers for Farmers in TigrayRead more How Choosing the Right Printer Helps Small Businesses and Content Creators to Save Time, Maximise Productivity and Achieve GrowthRead more The United States Contributes USD $223 Million to Help World Food Programme (WFP) Save Lives and Stave Off Severe Hunger in South SudanRead more Eritrea: World Breastfeeding WeekRead more Eritrean community festival in Scandinavian countriesRead more IOM: Uptick in Migrants Heading Home as World Rebounds from COVID-19Read more Network International & Infobip to offer WhatsApp for Business Banking Services to Financial Institution Clients across AfricaRead more Ambassador Jacobson Visits Gondar in the Amhara Region to Show Continued U.S. Support for the Humanitarian and Development Needs of EthiopiansRead more Voluntary Repatriation of Refugees from Angola to DR Congo ResumesRead more Senegal and Mauritania Are Rich in Resources, Poor in Infrastructure, Now Is the Time to Change That Read more

Twitter board backs chief Jack Dorsey after ouster bid

Print Friendly and PDF

Nov 04, 2020 - 04:14 AM

SAN FRANCISCO — Twitter’s board on Monday said Jack Dorsey will remain chief after a management review prompted by an activist investor’s effort to push him out of the job.

Twitter in March made a deal with key investors to end an effort to oust Dorsey, creating a new committee on the board of directors to keep tabs on company leadership.

The plan called for a fresh investment in Twitter by private equity group Silver Lake, and a pledge by the social media group to launch a $2 billion share repurchase plan.

The deal also enabled the hedge fund Elliot Management — which had been pressing to remove Dorsey — to get its partner Jesse Cohn a seat on the board of the San Francisco-based firm.

As part of the agreement, Twitter created a temporary board committee to “build on our regular evaluation of Twitter’s leadership structure.”

Twitter had been facing pressure by Elliott Management, which owns about four percent of the company, to replace Dorsey, amid concerns he has spread himself too thin by running Twitter along with the digital payments firm Square.

“The committee expressed its confidence in management and recommended that the current structure remain in place,” the board said Monday in a filing with the US Securities and Exchange Commission.

The board endorsed the committee’s recommendations.

  • bio
  • twitter
  • facebook
  • latest posts

ZONNTECH.COM uses both Facebook and Disqus comment systems to make it easier for you to contribute. We encourage all readers to share their views on our articles and blog posts. All comments should be relevant to the topic. By posting, you agree to our Privacy Policy. We are committed to maintaining a lively but civil forum for discussion, so we ask you to avoid personal attacks, name-calling, foul language or other inappropriate behavior. Please keep your comments relevant and respectful. By leaving the ‘Post to Facebook’ box selected – when using Facebook comment system – your comment will be published to your Facebook profile in addition to the space below. If you encounter a comment that is abusive, click the “X” in the upper right corner of the Facebook comment box to report spam or abuse. You can also email us.